Algert Global LLC bought a new position in Interface, Inc. (NASDAQ:TILE – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 124,532 shares of the textile maker’s stock, valued at approximately $1,828,000. Algert Global LLC owned about 0.21% of Interface at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. First Eagle Investment Management LLC bought a new position in shares of Interface in the first quarter worth about $2,027,000. SG Americas Securities LLC grew its position in shares of Interface by 1,195.5% during the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock worth $1,243,000 after buying an additional 78,113 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Interface by 182.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock worth $2,187,000 after buying an additional 83,932 shares during the period. Inspire Investing LLC acquired a new stake in shares of Interface during the 1st quarter worth approximately $859,000. Finally, Renaissance Technologies LLC grew its position in shares of Interface by 11.0% during the 2nd quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock worth $5,070,000 after buying an additional 34,200 shares during the period. 98.34% of the stock is owned by institutional investors.
Interface Stock Down 2.8 %
Shares of NASDAQ TILE opened at $18.18 on Thursday. The stock has a market cap of $1.06 billion, a P/E ratio of 18.00, a P/E/G ratio of 0.97 and a beta of 1.98. The firm has a 50 day moving average price of $17.88 and a 200 day moving average price of $16.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.45 and a current ratio of 2.76. Interface, Inc. has a 52-week low of $8.26 and a 52-week high of $19.45.
Interface Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio is currently 3.96%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on TILE. Barrington Research reiterated an “outperform” rating and set a $22.00 price target on shares of Interface in a research report on Friday, September 20th. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.
Get Our Latest Stock Report on Interface
Insider Activity at Interface
In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the transaction, the chief financial officer now owns 198,475 shares in the company, valued at $3,374,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the transaction, the chief financial officer now owns 198,475 shares in the company, valued at $3,374,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 3,555 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the transaction, the director now owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,858 shares of company stock worth $2,091,604. 2.60% of the stock is currently owned by company insiders.
Interface Profile
Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.
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